Cool it could be good
There are two big problems though, one is the nationalities of the characters, I mean are we going to have white actors playing characters named Rukia? Plus there are certain cultural aspects that wouldn't translate well, like the after life being a Japanese feudal village, they would likely change it it a sky mall or something.
The other problem, Bleach like DBZ, is one of those things that doesn't translate well into live action, Manga is far more stylized then comic books and
Death note could work as a Hollywood movie, so could Full Metal Alchemist or Cow Boy Bebop, but not Bleach.
Does Bleach really lend itself to live action cinema? Much less a version that would undoubtedly be westernized? There's plenty of popular manga that's less stepped in distinctly Japanese tropes and themes, so why is Bleach of all things getting the adaptation treatment? I can't really imagine this working.
But Dragonball Evolution was Fox not WB. WB did speed racer. Which yes people are going to argue it bombed, It was still enjoyable I loved Speed Racer I really did. Another thing people are forgetting is just because one was done badly doesn't mean another will be. They don't need to do big culture changes as there is alot of fans in west and that is who they should aim for.
I mean I've said this before take "batman begins" It shouldn't have been made if everyone is the mind set of "one sucked why bother" after Batman and robin. It's still possible to do a good version of something like Dragonball Z or Bleach if they just want to make it good not a cheap cash in.